Knowledge Bank: The Ultimate Mortgage Criteria Search System for Intermediaries
In the ever-evolving world of mortgage brokering, having access to up-to-date and comprehensive lending criteria is essential for ensuring the best possible outcomes for your clients. One platform that has revolutionised this process is Knowledge Bank, the UK’s largest mortgage criteria search system designed specifically for intermediaries. Whether you’re a mortgage broker, financial adviser, or intermediary, Knowledge Bank provides you with the tools to streamline your work, boost compliance, and enhance client satisfaction.
In this article, we’ll explore the various features, benefits, and advantages of using Knowledge Bank to simplify your mortgage placement process and how it continues to set new standards in the industry.
What is Knowledge Bank for Intermediaries?
Knowledge Bank is an innovative mortgage criteria search platform that aggregates over 140,000 individual pieces of criteria from over 280 lenders across multiple mortgage types. It provides mortgage intermediaries with a comprehensive, real-time database that helps them match their clients’ needs with the most suitable products and lenders.
The system is designed to offer brokers more than just basic product searches; it allows them to understand lender-specific criteria in greater detail, ultimately saving time and reducing the risk of rejected applications. Knowledge Bank offers an integrated approach, making it easy for brokers to find the perfect match for their clients without the need for extensive research or direct communication with each lender.
Key Features of Knowledge Bank
1. Extensive Database with Over 140,000 Criteria
Knowledge Bank covers seven distinct lending areas: Residential, Buy to Let, Second Charge, Equity Release, Self-Build, Bridging, and Commercial. This makes it the largest database of mortgage lending criteria in the UK. Whether you’re seeking traditional home loans or more specialised finance options, Knowledge Bank gives you the tools to find the best-fit lender for any scenario.
2. Real-Time Updates
The platform ensures that all criteria information is up-to-date, as lenders directly update their details on the system. This real-time approach allows brokers to access the latest criteria as soon as changes are made, helping them stay on top of evolving market conditions and lender requirements. As a result, brokers are always working with the most accurate and current data available.
3. Enhanced Compliance and Evidence of Research
Compliance is a crucial aspect of mortgage brokering, and Knowledge Bank makes it easier for intermediaries to adhere to regulatory requirements. The platform offers a customisable ‘Evidence of Research’ document for each search. This feature is vital when a lender cannot be selected due to a client’s unique circumstances, ensuring brokers can demonstrate due diligence in their decision-making process. By having this feature in place, brokers can mitigate the risk of compliance issues and build a stronger case for their client’s mortgage application.
4. CPD Accredited Webinars and Continuous Learning
Knowledge Bank goes beyond just providing tools for mortgage brokering—it also offers professional development opportunities. With over 40 hours of CPD-accredited webinars available annually, brokers have access to ongoing learning and industry updates. This ensures that intermediaries stay well-informed and up-to-date on the latest trends and regulations within the mortgage and finance sectors.
5. Time-Saving Features
Gone are the days of contacting individual lenders to confirm their criteria. Knowledge Bank functions like a personal Business Development Manager (BDM) for over 280 lenders, available 24/7. This drastically reduces the time spent researching and contacting lenders, allowing brokers to focus on providing the best outcomes for their clients rather than administrative tasks.
6. Lender Service Levels and Affordability Calculators
Access to up-to-date lender service levels and accurate affordability calculators are key features of the platform. Knowledge Bank ensures that brokers have a quick and easy way to assess which lenders offer the best service levels and products for their clients’ needs. This makes it easier to match clients with lenders who are not only suitable but also offer competitive service.
How Knowledge Bank Benefits Mortgage Intermediaries
Simplifying the Search for the Best Mortgage Deals
As a mortgage intermediary, one of your primary tasks is to find the best mortgage deal for your clients. However, this can be a daunting process when you need to sift through numerous lenders, compare products, and check their specific criteria. With Knowledge Bank, this process is simplified significantly.
By using its comprehensive search tools, you can filter through thousands of mortgage options based on your client’s needs. Whether your client requires a Buy to Let mortgage or an Equity Release option, Knowledge Bank ensures you find a suitable product quickly and efficiently. This allows you to serve your clients with speed and accuracy, providing them with tailored solutions that best match their financial situation.
Reducing Rejection Rates
A significant challenge for many mortgage brokers is the risk of application rejections. When an application is rejected, it not only delays the process but also damages the client’s trust in the broker. By using Knowledge Bank, you can ensure that you are always presenting your clients with the most suitable options, thus reducing the likelihood of rejection.
Because the platform is continuously updated and provides detailed lender criteria, you can avoid making the costly mistake of submitting an application to a lender who may not accept your client’s specific circumstances. With Knowledge Bank, you’ll be able to offer better outcomes for clients by ensuring that every case is matched with the right lender.
Customisable Reporting and Compliance Assurance
Another major benefit of Knowledge Bank is its ability to generate customisable reports for compliance purposes. The Evidence of Research feature allows brokers to provide regulators and clients with clear, detailed information about why a particular lender was chosen. This ensures transparency and accountability in your decision-making process, which is crucial in today’s heavily regulated financial environment.
Why Choose Knowledge Bank?
There are numerous reasons why mortgage brokers and intermediaries should consider using Knowledge Bank. It’s not just the size of the database that sets it apart but the wealth of features and tools that it provides. From real-time updates and CPD webinars to comprehensive lender criteria and customisable reporting, Knowledge Bank is an essential tool for intermediaries looking to enhance their efficiency and compliance.
The platform’s intuitive design makes it easy for brokers to integrate into their existing workflows, and the wealth of resources ensures that they are always up-to-date with the latest market developments. The pricing structure is also highly competitive, with individual plans available for £19.99+VAT per month or £199.99+VAT per year, offering great value for those looking to enhance their operations.
For brokers working with larger teams, Knowledge Bank also offers bespoke pricing for team plans, which include management tools for sales and compliance managers. This makes it the ideal solution for brokerages looking to streamline their operations while maintaining compliance and delivering exceptional service to their clients.
Conclusion
For mortgage intermediaries, Knowledge Bank is an indispensable tool that simplifies the search for the best mortgage products and streamlines the entire mortgage placement process. With its comprehensive database, real-time updates, and compliance features, it helps brokers find the most suitable products for their clients, improve efficiency, and reduce the risk of rejections.
By using Knowledge Bank, mortgage professionals can stay ahead of the competition, ensure compliance, and provide their clients with the best possible outcomes.
To discover more about the platform and start your free trial, visit the Official Website.
Whether you’re a small independent broker or part of a large team, Knowledge Bank for intermediaries provides you with the resources you need to excel in the fast-paced world of mortgage brokering.
